Analysts forecast that Pinnacle Foods (NYSE:PF) will announce sales of $765.55 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Pinnacle Foods’ earnings, with the highest sales estimate coming in at $779.00 million and the lowest estimate coming in at $755.18 million. Pinnacle Foods posted sales of $766.07 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 0.1%. The firm is expected to issue its next earnings report before the market opens on Thursday, May 3rd.
On average, analysts expect that Pinnacle Foods will report full year sales of $3.13 billion for the current financial year, with estimates ranging from $3.10 billion to $3.19 billion. For the next financial year, analysts expect that the firm will report sales of $3.17 billion per share, with estimates ranging from $3.09 billion to $3.21 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Pinnacle Foods.
Pinnacle Foods (NYSE:PF) last announced its earnings results on Thursday, March 1st. The company reported $0.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by ($0.01). The company had revenue of $883.51 million during the quarter, compared to analyst estimates of $896.53 million. Pinnacle Foods had a return on equity of 14.75% and a net margin of 16.92%. Pinnacle Foods’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.79 earnings per share.
A number of equities analysts recently weighed in on the stock. Credit Suisse Group set a $67.00 target price on shares of Pinnacle Foods and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Zacks Investment Research downgraded shares of Pinnacle Foods from a “hold” rating to a “sell” rating in a research note on Tuesday, February 6th. Piper Jaffray began coverage on shares of Pinnacle Foods in a research note on Tuesday, March 13th. They set an “overweight” rating and a $64.00 price objective for the company. JPMorgan Chase increased their price objective on shares of Pinnacle Foods from $63.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 13th. Finally, ValuEngine upgraded shares of Pinnacle Foods from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $64.33.
Shares of NYSE PF opened at $60.58 on Friday. The firm has a market capitalization of $6,747.96, a P/E ratio of 23.76, a P/E/G ratio of 2.45 and a beta of 0.47. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.84 and a quick ratio of 0.97. Pinnacle Foods has a 1-year low of $52.25 and a 1-year high of $66.67.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 11th. Stockholders of record on Tuesday, February 27th were paid a dividend of $0.325 per share. The ex-dividend date of this dividend was Monday, February 26th. This represents a $1.30 dividend on an annualized basis and a dividend yield of 2.15%. Pinnacle Foods’s dividend payout ratio is 50.98%.
In other Pinnacle Foods news, Director Muktesh Pant acquired 20,000 shares of Pinnacle Foods stock in a transaction dated Wednesday, March 7th. The stock was bought at an average cost of $56.93 per share, for a total transaction of $1,138,600.00. Following the purchase, the director now directly owns 49,706 shares in the company, valued at approximately $2,829,762.58. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.34% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Assetmark Inc. raised its holdings in shares of Pinnacle Foods by 476.8% in the 4th quarter. Assetmark Inc. now owns 1,840 shares of the company’s stock valued at $109,000 after purchasing an additional 1,521 shares during the period. Cerebellum GP LLC bought a new stake in shares of Pinnacle Foods in the 4th quarter valued at about $133,000. American International Group Inc. bought a new stake in shares of Pinnacle Foods in the 4th quarter valued at about $147,000. Fortaleza Asset Management Inc. bought a new stake in shares of Pinnacle Foods in the 4th quarter valued at about $166,000. Finally, Miles Capital Inc. bought a new stake in shares of Pinnacle Foods in the 4th quarter valued at about $204,000. 96.93% of the stock is currently owned by institutional investors.
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Pinnacle Foods Company Profile
Pinnacle Foods Inc manufactures, markets, and distributes branded convenience food products in North America. It operates through four segments: Frozen, Grocery, Boulder, and Specialty. The Frozen segment offers frozen vegetables, frozen complete bagged meals, frozen prepared seafood, frozen and refrigerated bagels, frozen pizza, and full-calorie single-serve frozen dinners and entrées under the Birds Eye, Birds Eye Voila!, Van de Kamp's, Mrs.
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